Willkie Farr Hit With Malpractice Suit From Fund Manager

Law360, New York (October 7, 2011, 9:59 PM EDT) -- Willkie Farr & Gallagher LLP on Thursday removed to New York federal court a malpractice suit claiming the firm is to blame for the allegedly deceptive disclosures Reserve Management Co. Inc. made about its money market fund following the Lehman Brothers Holdings Inc. collapse.

The suit, initially filed Sept. 16 in New York Supreme Court, claims RMCI acted on the advice of its counsel, Willkie Farr partner Rose F. DiMartino, when it issued disclosures about the fund — which held $785 million of debt securities issued...
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